North Shore Housing Market Update - December Edition

As we close out the year, there’s plenty of national housing news dominating headlines — but if there’s one thing I remind my clients regularly, it’s this: Real estate is hyper-local. What’s happening in the broader U.S. market doesn’t always reflect the reality here at home.

That said, understanding the national backdrop helps put our local success into perspective. Here’s what you need to know right now:

 National Market: A Shift Toward Lower Rates

Over the past few weeks, new economic data has prompted a meaningful shift in expectations:

• Inflation continues to cool
• Consumer spending has slowed
• Job growth has softened — even turned negative in some reports
• Rents nationwide are declining for the first time in years

All of these factors provide the Federal Reserve room to begin cutting interest rates sooner than anticipated. And while we never count our chickens before the Fed announces its direction, the financial markets are now overwhelmingly expecting a rate cut before year-end.

Why this matters: Lower mortgage rates typically encourage more buyers to enter the market — nationally, that could help revive transaction volume through 2025.

 Our Local Market: A Different Story

While portions of the country are still finding their footing, our corner of Chicagoland has been remarkably resilient:

• Prices in most North Shore communities remain strong. 
• Inventory is limited, keeping competition healthy and days-on-market low
• Renovated, move-in-ready homes continue to attract multiple offers
• Demand remains robust from local move-up buyers and families relocating from the city

What this means in real life:
Homes that are updated, well-situated, and marketed strategically are still selling quickly — often above expectation. Even as economic headlines fluctuate, the North Shore retains its desirability thanks to exceptional schools and lifestyle amenities.

 The Bottom Line

The national market is softening… but our market is not weakening — it’s normalizing.

• Buyers may soon gain a little relief with improving interest rates
• Sellers still benefit from low competition and strong demand for quality homes
• Long-term outlook for North Shore real estate remains exceptionally positive

If you’re contemplating a move in 2026 — whether selling, buying, or investing — the best time to plan is before rates shift and the market becomes more crowded.

Let’s Strategize Your Next Move

I’m always happy to share hyper-local insights specific to your neighborhood or property. If you’d like a confidential market analysis or simply want to chat about what the next year may hold for you, I’m here — and I’m on your side of the table.